Channel Trading Strategy

This EA takes as a channel between your resistance and support trend lines that you draw on your graphic, and when the price reaches your support-resistance trend lines EA automatically open or close your position.

You must draw two trend line with same color for EA to work, not equidistant channel line. and this color must be specified in ChannelColor parameter

Features available for the money management

You can put limit on the number of positions that are closed with Loss. So EA doesn't open a new position.

You can define fixed lot size for all positions

or if you choose risk percentage, you can automatically calculate the lot size for all positions

Notes

It is working without problem in the all periods, but we recommend that you use hourly or 4-hours periods

It is working without problem in the 3, 4 or 5 digit pricing (Stop-Loss, Take-Profit, Trailing-Stop value in all parity must be entered as 4 digits. 1 pip = 0,0001)

Advisor Parameters

Strategy - The choice of strategy, The OutsideChannel was chosen as the default strategy

ChannelColor - The color of the channel trend lines that you draw. The two trend lines should be the same color. Default value - Orange

BuyPosition - If this option is off, the advisor does not open buy position

SellPosition - If this option is off, the advisor does not open sell position

AutoCalc_SL - If this option is true Stop-Loss value will be calculated automatically "Stop-Loss(pip) = 1/3 of the channel-length(pip)", If you choose false you can enter manually. Default value - true

StopLoss - Manually entered value for Stop-Loss

AutoCalc_TP - If this option is true Take-Profit value will be calculated automatically "Take-Profit(pip) = channel-length(pip)", If you choose false you can enter manually. Default value - true

Take-Profit - Manually entered value for Take-Profit

Auto_TSL - If this option is true Trailing-Stop value will be calculated automatically "Trailing-Stop(pip) = Take-Profit(pip)", If you choose false you can enter manually. Default value - true

Trailing-Stop - Manually entered value for Trailing-Stop. You must enter a value less than Take-Profit to activate Trailing-Stop

Money_Management - If this option is true, you can use the following parameters and money management features. Default value - true

LossOrderLimit - if the Consecutive Loss Position Number is bigger than this number EA will stop opening position. Default value - 3

LossOrderLimit_Start - EA will start to count the Loss Position Number after that date.

Risk_Percentage - If Money_Management option is true, lot automatically calculated according to the values you enter. Default value - 5%

Example (EUR/USD)

Free Margin

Price

Calculated Max Lot Size(Free Margin)

Risk Percentage

Calculated Lot Size(Order)

9.500 USD

1.13720

19.89

5%

0.99

Lot_Size - Manually entered value for fixed lot size

You can choose two different strategies:

Inside Channel Strategy - If the price is between the channel trend lines , EA opens position

If the price reaches the support line EA will open a position, and when the price reaches the resistance line EA will close the opened position automatically.

If the price reaches the resistance line EA will open a position, and when the price reaches the support line EA will close the opened position automatically.